April 2016 Austin Market Report

Summer must be right around the corner because Austin home sales are heating up! According to the latest numbers from the Austin Board or Realtors, April saw a 5% increase in home sales since last year with 2,600 homes sold. This marks the third consecutive month of increases in Austin home sales. Home prices also continued to rise with a median price of $288,198 in April. The totals for new, active, and pending sales all went up last month by 3%, 9%, and 13%, respectively. Despite all this activity on the market, the available months of inventory in the Austin area stayed a 2.3 months, which is only a 0.1 month increase since April 2015. This is significantly below the 6.3 month mark, which is considered a balance of supply and demand for Austin area homes. Based on these numbers, we can expect a competitive home selling season in the Austin area. Take a look at the newest statistics from the Austin Board of Realtors for April 2016:

April 2016 Austin Market Statistics

5% increase in total single-family homes sold since April 2015 at 2,600 homes

Median sales price of a home was $288,198 last month, which is 7% more than April 2015

Total dollar sales volume for single-family homes increased 9% in April 2016 to $910,869,491

0.1 month increase in months of inventory available last April at 2.3 months

No change in the average days on the market with 47 days in April 2016

3% increase in new listings for April 2016 at 3,761 listings

9% increase in active listings since April 2015 with 5,533 listings in April 2016

3,072 pending sales in April 2016, or 13% more than April 2015

It appears Austin’s trend of growing sales and rising prices isn’t slowing down anytime soon. If you’re planning to list your home for sale, now is the perfect time! With such high demand for Austin area homes, you may find yourself in a multiple offer situation. Don’t be overwhelmed by eager buyers; our expert agents can help you negotiate and secure the best offer for your home. If you’re considering purchasing an Austin area home, don’t let rising prices stop you from finding the perfect one. Stay committed to your home search and be open to listings just outside of Austin in areas like Cedar Park, Leander, Buda, and Kyle. Work with an experienced agent who knows the Austin market for the best chance of discovering your dream home. Whether you’re buying or selling a home in the Austin area, our agents have the tools and real estate knowledge you need on your side. Contact us to start working with one of our expert agents!